Bailouts, stimulus packages and guarantees should be seen as a kind of backdoor protectionism. Washington is protecting Wall Street; it’s protecting the banks; it’s in general. Foreigners have already raised concerns about this bailout-style protectionism and the potential of a global trade war. Of course, if you make this
13 months. Protecting banks, Wall Street, Detroit, housing, construction, etc., is protectionism even if it hasn’t resulted in a change in tariff rates. Bastiat reminds us that there are many types of protectionism. They all have international implications. As conditions worsen,
able to justify a variety of noneconomic policies such as “beggar thy neighbor” protectionism. She heralded the concept of growth efficiency, which is essentially a was simply a variation of the long-discredited infant-industry argument for protectionism: Under conditions of nondecreasing returns there is simply no way that
rate at less than 8 percent. 7 Bailouts are simply a hidden form of discretionary protectionism and should be the poster child for the ill effects of interventionism.
rate at less than 8 percent. Bailouts are simply a hidden form of discretionary protectionism and should be the poster child for the ill effects of interventionism.
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The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.